I was going to get all deep, philosophical and Web 2.0 on you – but its too early on a Sunday morning. Besides, Rupert Murdoch sums it up pretty good below. Remember, this is a “big” guy telling you that “fast” is better. If I had to apply it to your investor relations, I would say:
- Communicate Fast – Don’t rely on press releases. Start blogging, tweeting, etc.
- React Fast – Listen to your investors today. This minute. Not at your AGM.
- Respond Fast – Once you’ve listened, respond and engage.
- Adopt Web 2.0 Fast – You can’t do all this via phone and e-mail. Think 1:Many, not 1:1.
- Adopt Mobile Fast – No point in delaying the inevitable.
Regards,
George
[…] Small-Cap CEO Lesson: “Fast Beats Big” […]
“React Fast – Listen to your investors today. This minute. Not at your AGM.” This is something I find is echoing throughout various AGORACOM Boards. Public Companies should be aware of their communication media. As for if twitter is the way; not necessarily. I personally think it’s a whim (twitter retains less than 40% of it’s new members). But it’s a small part of the bigger whole (which includes both traditional and new media). A great place for company’s/investors to uncover important meta data.
Twitter may not be making money (yet), but it certainly provides great values not only to investors, but practically to everyone involved, and I think it’ll be one of the most important sites in the coming years!
I’ve got two letters that prove your point… “GM”. At one time, they were the biggest corporation in the world and where are they now? All because they were slow to respond to the marketplace.
Really like that headline. So indicative of the times.